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Low Interest Auto Financing Calculator

This Low Interest Auto Financing calculator allows you to compare up to three different auto loan packages with different interest rates. You can use it to compare auto leasing packages as well. To use this calculator, you'll need the amount you plan to finance, the size of the down payment you plan to make, the length of the loan you're interested in and the Annual Percentage Rate (APR) on up to three auto loan options. If leasing, you'll need the post-lease residual value of the vehicle as well. The calculator will show you the monthly payments and total interest costs on all three loan or lease options

Low Interest Auto Financing Calculator Overview

Living on a budget is not easy to do, especially if you need to buy a new vehicle. To get the most affordable loan possibly you compare the characteristics of several different loan packages before you select a loan to use. If you are ready to buy a car now then you can save time and money by using our Low Interest Financing Savings calculator to help you compare your options.

Sometimes, simply choosing a loan with the lowest interest rate is not the best deal. Loans may have fees built into them that can make them more costly than another loan with a higher interest rate that has lower fees. This is where annual percentage rate (APR) comes in. The APR is a way of representing the total cost of a loan, fees included, in terms of an interest rate.

The APR is basically the interest rate that would give you the same monthly payment on a loan without fees as you'd pay on a loan at the listed rate with the fees rolled into the loan amount.

Even then, the lowest APR may not be a perfect guide to the best loan choice. There may be other, non-financial factors to take into consideration. For example, the dealer offering the lowest APR on a vehicle may be some distance away. You local dealer may charge a higher APR but offers the convenience of nearby service when you need to have your vehicle worked on.  This calculator will show you how up to three loans compare so you can decide if the savings from one outweigh the convenience or other factors of the other loan options.


Using the Low Interest Auto Financing Calculator

Enter your information as follows:

  • Balance to finance: Enter the amount you're borrowing, not the price of the car, unless those are the same.
  • Down payment: Include both the value of your trade-in and any additional cash you're paying up front.
  • Residual (lease-only): What the dealer will charge you to purchase the vehicle at the end of the lease; this box is locked out if you're doing loan calculations.
  • Term in months: Length of the loan or the lease.
  • Finance my purchase: Indicate if you choose to purchase (auto loan) or lease the vehicle.
  • APR options: Enter the APR, not the interest rate, for up to three loan options.

Hit "calculate" to see what you'd save with the most affordable option; "View Report" for a table of all three.